/
Depeg event
Detected under v1.0
USDM moved below peg at 16:02 UTC on January 25, 2026, with a peak deviation of 5.68% at $0.9432. The observation closed 2.0 days later at 17:02 UTC with a recorded recovery price of $0.9969.
The checked-in price path starts at $0.9888 against a recorded peg reference of $1.00. Pharos captured the incident through a historical backfill and evaluates it under v1.0. The record reports the observed price path and resolution state without inferring a cause from those measurements.
Event summary
Related incidents
Other recent peggedUSD depegs
Other fiat-cash incidents
Stablecoin
Moneta (USDM) →USDM is Moneta's dollar stablecoin on Cardano, issued through U.S. and EEA routes with NBX EMI-license and MiCA-pending framing.
Preferred source
Reading Pharos regularly? Mark it as a preferred source and Google will surface Pharos Watch more often in Top Stories, AI Overviews, and AI Mode.
Add Pharos Watch in Google ↗Methodology pin: v1.0 changelog